(MENAFN) According to quarterly forecasts, News Zealand's economic recovery has slowed along with the pace of growth, suggesting a possibility of holding interest rate for the next year, Xinhua reported.
During the first half of this year, the economy grew strongly and the growth rate was expected to hit 3.5 percent for the full year, before dipping to 2.7 percent next year.
"The rather lumpy and wobbly recovery means that this recovery is still elusive to many industries and regions. This in part explains why inflation is still subdued and is likely to remain so for some time," NZIER principal economist said.
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